It's been a very volatile 2 weeks since Jan 24th. We've seen some massive moves in both directions, mostly a "recovery" with 200, 300 point rallies. Earnings season is about over, and the rally was as expected.
CPI came out today, hotter than expected, and using older CPI methods, it's hotter than reported. Anyone can see that inflation is well over 10% when factoring in rent, food, cars, homes, and even utilities.
Consumer Sentiment will give us guidance as well as a falling sentiment tell us the consumer are more hesitant to spend. Personal credit set another record at $15 trillion dollars, as well as revolving credit increased. Consumers put more on credit cards last holiday season so this will dampen retail.
Microsoft on the 1M chart has lots of room to sell (RSI and MACD). The MACD is starting to come down on 1M, ready to cross like the Nasdaq is. It's possible that the short term rally/correction is over, but, it's to see. The Fed could continue to manipulate markets. If this sounds foreign, just Google "S&P vs Fed Balance Sheet". There is NO way it's a coincidence that Fed Balance Sheet grew at the same time the equities market grew.
Support
Resistance Levels
200MA is $295
CPI came out today, hotter than expected, and using older CPI methods, it's hotter than reported. Anyone can see that inflation is well over 10% when factoring in rent, food, cars, homes, and even utilities.
Consumer Sentiment will give us guidance as well as a falling sentiment tell us the consumer are more hesitant to spend. Personal credit set another record at $15 trillion dollars, as well as revolving credit increased. Consumers put more on credit cards last holiday season so this will dampen retail.
Microsoft on the 1M chart has lots of room to sell (RSI and MACD). The MACD is starting to come down on 1M, ready to cross like the Nasdaq is. It's possible that the short term rally/correction is over, but, it's to see. The Fed could continue to manipulate markets. If this sounds foreign, just Google "S&P vs Fed Balance Sheet". There is NO way it's a coincidence that Fed Balance Sheet grew at the same time the equities market grew.
Support
- $300
- $292
- $280
Resistance Levels
- $315
- $306
200MA is $295
Dagangan aktif:
Microsoft Put $200 for March 18th.
Pesanan dibatalkan:
It seems like no matter how good charts get, it is almost impossible to predict movements when the stock market no longer takes account economic data, geopolitical events. The market has become so unpredictable now that the Fed Market Makers and PPT move the markets as they wish. The movements are all fake without base or cause. This market is disconnected from reality altogether.
